The Autumn Budget is here, and with it comes some important updates that could directly impact you and your home’s energy efficiency. At Smart Energy Homes, we’re here to break down what these changes mean and how they could help you save big on energy costs while making your home warmer and more efficient.
What is the Autumn Budget all about?
In a nutshell, the Autumn Budget outlines the government’s financial strategy for the coming year, including how they plan to allocate funds and adjust taxes. This year, with a new Labour government at the helm, the focus is heavily on supporting households, tackling energy inefficiency, and investing in green solutions to address the cost-of-living crisis and climate change.
The government’s goal is ambitious but clear: lift 1 million homes out of fuel poverty and improve the energy efficiency of 5 million homes by 2030. This push to make homes more energy-efficient is more urgent than ever, especially for properties with low energy ratings and families on lower incomes.
How does the government plan to support energy upgrades?
Warm Homes Plan
- The government will invest £3.4 billion over the next three years to boost household energy efficiency and decarbonise heating.
- An additional £1.8 billion will be allocated to support fuel poverty initiatives, helping over 225,000 households save more than £200 annually on energy bills.
- Due to high demand, funding for the Boiler Upgrade Scheme will increase, making heat pumps more accessible across England and Wales.
Winter Fuel Payment and Pension Credit changes
Only individuals receiving Pension Credit or specific income-related benefits will qualify for the Winter Fuel Payment moving forward. Additionally, from Spring 2025, those applying for Housing Benefit will be actively encouraged to apply for Pension Credit to boost support for pensioners.
Household Support Fund extension
The government will extend the Household Support Fund to help low-income households cover the costs of essentials like food, energy, and water.
What does this mean for you?
These energy investments are great news for households struggling with high energy bills. In addition, if your home is in a qualifying postcode and your annual income is less than £31,000, you could be eligible for free energy efficiency upgrades worth up to £70,000 under the Eco4 scheme. This includes loft insulation, cavity wall insulation, room in roof insulation, internal wall insulation, air source heat pumps, and even solar panels.
These improvements can make a massive difference, not just in reducing your energy bills but also in keeping your home warm and comfortable through the winter. Plus, they can increase the overall value of your home.
Ready to lower your energy bills?
At Smart Energy Homes, we’re committed to making energy efficiency accessible and stress-free. Check your eligibility in just 60 seconds, and our friendly customer service team will handle the rest.
With up to £70,000 available in free energy upgrades, there’s never been a better time to make smart choices for your home and your wallet.
